0
What else can I help you with?
Is a divorce buyout of a house considered a taxable event?
Yes, a divorce buyout of a house can be considered a taxable event if it involves the transfer of ownership between spouses and there is a significant difference in the value of the house compared to the original purchase price. It is important to consult with a tax professional or attorney to understand the tax implications of a divorce buyout.
What if you own your house before you were married then after you were married you refinance your home to put your spouse on the deed and the morgage then you get divorce?
You need to talk to a divorce lawyer about that.
If a husband and wife bought a house in Turkey but her Turkish husband only put the house in his name can she claim half the value of the house if they divorce?
It depends when the purchase was made; either when Civil Code Law No 743 was in effect or after 1/1/2002 when Civil Code Law No: 4721 came into effect.
What is an example of using a loan to purchase an asset that increases in value over time?
An example of using a loan to purchase an asset that increases in value over time is taking out a mortgage to buy a house.
Does a spouse pay inheritance tax?
Yes if they inherit something of monetary value. Everybody who inherits something of monetary value pays inheritance tax.
How can one get an inheritance advance?
If you are due an inheritance that is in probate, or will receive an inheritance that is in trust it might be possible for you to get an inheritance advance. There are numerous companies online that offer this service. Loans are usually to the value of 50-60% of your inheritance.
Can you place a lien on property held as joint tenant for value of inheritance that they agreed to purchase at time of inheritance?
You need to state your case before a judge and get a judgment in your favor in order to obtain a judgment lien against another party. You have no power to place a lien on anyone's property.
What is the present value of your inheritance?
The present value of your inheritance is the current worth of the future cash flows you expect to receive, discounted back to today's dollars using an appropriate interest rate. To calculate it, you would sum the expected amounts of the inheritance for each future year and discount them based on the chosen rate. This value can significantly differ depending on factors like the timing of the inheritance and the discount rate used. Understanding this helps in assessing the true value of the inheritance in today's terms.
Can your spouse of 10 years legally claim total ownership of a house when 4 years of payments were made on it with marital monies prior to a payoff with his inheritance monies?
No. If both of your names are on the loan and paperwork, then you both have legal ownership of the house. It can't just be claimed by one person. Well.....the loan was made and the house was built prior to our marriage. His exwife signed a quitclaim on it when they divorced. He never changed any paperwork or wanted to when we married even though monthly house payments were still being made. During our 10 year marriage, marital monies were used to make house payments for around 4 years. Then he paid off the house with some money he inherited. He believes in the event of a divorce that I will have no legal claim on the value of the house because he has paid for the most of it and because my name is not on the loan papers or the deed. So...I am wondering if I would have any legal claims against the value of the house in the event of a divorce.
What is the cost basis of a home after divorce?
The cost basis of a home after divorce is typically the value of the home at the time of the divorce. This value is used to calculate capital gains taxes if the home is sold in the future.
What type of tax is placed on the value of inherited property?
inheritance
What type of tax is placed on value of inherited property?
inheritance
